According to
the report, global paper packaging material market was valued at around USD
286.61 billion in 2015 and is expected to reach USD 362.65 billion in 2021,
growing at a CAGR of around 4.4% between 2016 and 2021. In terms of volume, the
global paper packaging material market stood at above 186.42 million tons in
2015.
Paper
packaging is a best alternative to other packaging material due to its recyclable,
renewable and biodegradable properties which makes it environment friendly.
Paper is largely used material in packaging market due to its easy
availability. Poster paper, craft paper and glassine paper are the different
types of papers used in paper packaging. Paper, timber, pulp and other such
forest and recycled products are basic raw materials used in paper packaging.
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Liquid
packaging cartons, corrugated cases, carton & folding boxes and other products
such as sacks, bags, etc. are the key product segments of the paper packaging
material market. Liquid packaging cartons dominated the paper packaging market
and accounted for more than 40% share of the total market in 2015. Due to
advancement in novel retail packaging, corrugated cases segment is expected to
witness highest growth over the forecast period.
On the basis
of applications paper packaging material market can be segmented into
beverages, fast foods, fresh foods, dairy & bakery, frozen foods and other
applications. Beverage was the largest application market for paper packaging
material in 2015, which accounted for about 42% of global consumption in 2015.
Frozen foods application is projected to witness the highest growth rate in
coming years due to rapid development of fast food and frozen food industries
in emerging economies.
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Increasing
demand for paper packaging due to rising awareness of ecological issues around
the world is the key driver of paper packaging material market. For packing the
products like food & beverages, pharmaceutical and cosmetics, paper
packaging materials are used in a large quantity. It is an eco-friendly option
and can be recycled and reused as against plastic which helps to boost the
demand of paper packaging material. The demand of paper packaging material is
high due to light weight, disposable, safe for environment, cost effective,
easy to carry, non toxic and durable properties of paper. Rapid development of
fast food and frozen food chains in emerging market coupled with growing
packaging market is also expected to flourish the market for paper packaging
material.
Paper
packaging material market was dominated by Asia Pacific with 35% share in 2015
due to advancement in paper packaging techniques. Asia Pacific was followed by
North America and Europe. However, restraint like deforestation is expected to
curb the growth of this industry.
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Global paper
packaging material market is highly competitive, with the presence of
well-established global market participants. DS Smith PLC, Georgia-Pacific
Corporation, Holmen AB, Hood Packaging Corporation, International Paper
Company, MeadWestvaco Corporation, OJI Holding Corporation, Smurfit Kappa Group
Plc, Stora Enso Oyj and The Mayr-Melnhof Group are some of the key vendors in
the market.
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